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NewForex — The technical analysis of Forex Market

Discussion in 'Technical Analysis' started by Anna Mon, May 25, 2016.

  1. Anna Mon

    Anna Mon New Member

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    Allow me to present to the distinguished community the technical analysis of Forex Market by NewForex company. In this thread I will post daily technical analytics.
     
  2. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    On Wednesday the pair trades with slight downward price movements within the support at 1.1089 and resistance at 1.1184. Signs of overbought are observed in the market. All display moving averages decline without any signs of slowdown.

    The MACD-histogram remains in the negative zone and holds a signal to sell. The RSI stays below the central line and slides down, the oscillator Stochastic stands in the zone of oversold which implies a considerable potential of sellers.

    [​IMG]

    NewForex Analyst

    Sara Rosenstein

    Forex News from New Forex: Technical analysis of GBP/USD

    Making a firm bullish candlestick at the end of the trading session on Tuesday, today the currency pair demonstrates a slight price rise. The pair stands within the support at 1.4554 and resistance at 1.4725. Exponential moving averages EMA20 and EMA55 accelerated and increase.

    The MACD-histogram entered the zone above its central line and move upwards. The oscillator Stochastic stays in the zone of overbought sending signals to sell.

    [​IMG]

    NewForex Analyst

    Sara Rosenstein
     
  3. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    In the trading on Thursday the market remains within the support at 1.1143 and resistance at 1.1180. Exponential moving averages have slowed down considerably. The MACD-histogram stays in the negative zone but turned upwards. The RSI demonstrates some weakening of buyers with a possible shift of power to sellers, the oscillator Stochastic stands in the zone of overbought.

    Bears might get a chance to push the market to 1.1010 if the price consolidates below the strong support level at 1.1100. Otherwise, when bulls fix above 1.1200, we might see the price at 1.1310.

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    NewForex Analyst

    Michael Butnitsky

    Forex News from New Forex: Technical analysis of USD/JPY

    On Thursday the currency pair trades with a slight upward movement within the support at 110.02 and resistance at 110.63. EMA20 and EMA55 slowed down and are close to crossing. The MACD-histogram entered a positive zone and move upwards, the Stochastic sends signals to buyers. In case of their consolidation above the level of resistance, the market has a potential to rise to 111.50. However, if bears manage to hold the level below a strong support at 109.60, the success of buyers towards 108.50 will become more obvious.

    [​IMG]

    NewForex Analyst

    Michael Butnitsky
     
  4. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    On Friday all market participants are in the anticipation of the speech of Janet Yellen, Fed’s Chair. Consequently, the market does not show any swift movements and the situation is likely to remain unchanged till 17:15 GMT. What’t more, the G7 meeting is held in Japan at the moment, its participants are expected to make a speech by the end of it.

    Thus, in spite of forming a firm bullish candlestick on the close of yesterday’s trading session, it’s early to speak about the further upsurge or decline. Today fundamental market factors decide everything.

    At the moment trades are seen within the support at 1.1172 and resistance at 1.1240. In a day chart the MACD-histogram remains in the negative zone and declines. Exponential moving averages with the period 20 and 55 days slowed down and are close to being crossed. The RSI indicator demonstrates further easing of the bullish market sentiment sliding slightly below the central magnitude. The oscillator Stochastic is near to leaving the zone of oversold and sends signals to buy which might be fallacious if we take the above mentioned technical features into consideration.

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    NewForex Analyst

    David Fineberg

    Forex News from New Forex: Technical analysis of GBP/USD

    On Friday trades show a slight sagging in comparison with the previous trading session within the support at 1.4640 and resistance at 1.4715. A classical pattern"Short Sqeeze" indicates the start of price correction in the short run.

    The sterling settled above the immediate strong support at 1.4640, but a clear-cut market movement has not been formed yet. All market participants expect the results of G7 meeting in Japan and the speech of the Fed’s Chair Jannet Yellen.

    EMA20 and EMA55 rise, the MACD-histogram stays above its central line but is close to reverse. The Stochastic confirms market uncertainty.

    [​IMG]

    NewForex Analyst

    David Fineberg
     
  5. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    In the trading on Monday the pair trades with a slight downtrend and the price remains within the immediate support at 1.1067 and resistance at 1.1159. The MACD-histogram stays in the negative zone and looks down. Exponential moving averages with the period 20 and 55 keep declining, the oscillator Stochastic is close to leaving the zone of oversold but has not left it yet.

    Thus, the technical structure indicates today that the market continues a downtrend within the descending corridor.

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    NewForex Analyst

    Luigi Campo

    Forex News from New Forex: Technical analysis of GBP/USD

    On Monday the pair trades with some descend within the support at 1.4570 and resistance at 1.4656. EMA20 and EMA55 slowed down and flatten out. The MACD-histogram decreased and approached its central line looking downwards. The oscillator Stochastic stays in the zone of oversold.

    If the market breaches the level at 1.4570 and consolidates below support, there might be a descending movement to 1.4350. If the market consolidates above resistance at 1.4656, we may see a rise to 1.4750.

    [​IMG]

    NewForex Analyst

    Luigi Campo
     
  6. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of GBP/USD

    On Tuesday the pair trades with some downtrend within the support at 1.4614 and resistance at 1.4670. The MACD-histogram has decreased and is close to a central line, the oscillator Stochastic sends a signal to sell but moving averages have not reversed yet.

    The market situation is uncertain, now we observe the phase of correctional consolidation in the course of which further dynamics of the currency rate will be seen in the short run.

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    NewForex Analyst

    Joseph Schwartz

    Forex News from New Forex: Technical analysis of EUR/USD

    On Tuesday the currency pair trades with a firm potential to decline with the nearest target at 1.1085. Currently the market remains within the support at 1.1118 and resistance at 1.1168. Today a monthly candlestick will close and in the short run bulls have almost no chance to change its bearish status. May is a lost month for them.

    Exponential moving averages descend, the MACD-histogram remains in the negative zone as well as the RSI which keeps standing below its central line. Oversold is out of the question, rather on the contrary. The Stochastic sends signals to sell. Thus, at the moment buying seems highly risky in this market.

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    NewForex Analyst

    Joseph Schwartz
     
  7. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    In the Asian trading session on Wednesday the currency pair trades with a slight price rise staying within the support at 1.1099 and resistance at 1.1153. In the short run the market has definitely a bullish sentiment with attempts to breach the current level of resistance.

    Exponential moving averages have significantly slowed down, the MACD-histogram reduced and is close to entering a positive zone looking upwards. The oscillator Stochastic is seen in the zone of oversold sending signals to buy. The RSI indicates a firm bullish market potential and is about to enter the zone above its central line.

    Thus, the technical structure is not in favour of bears today. The question left is whether buyers will take advantage of it?

    In case of breaching the level of resistance, the nearest target might be 1.1216 and further 1.1242. Otherwise, the price might slide to 1.1010.

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    NewForex Analyst

    Luigi Campo

    Forex News from New Forex: Technical analysis of GBP/USD

    On Wednesday the currency pair demonstrates a decline staying within the support at 1.4343 and resistance at 1.4604. As for short-term prospects of the market development the current technical structure says that moving averages EMA20 and EMA55 slowed down and are close to crossing downwards.

    The MACD-histogram slid into the negative zone and moves further down. The RSI indicates that buyers supporting the bullish market sentiment have eased. However, the oscillator Stochastic entered the zone of oversold and sends signals to buy but it might be fallacious.

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    NewForex Analyst

    Luigi Campo
     
  8. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of GBP/USD

    At the opening of the European trading session the pair trades with some sagging staying within the immediate support at 1.4339 and resistance at 1.4462. Exponential moving averages with periods 20 and 55 days crossed downwards and keep sliding but have slightly slowed down.

    The MACD-histogram decreases as well staying in the negative zone. Sellers still preserve their power and currently buyers have little chance to reverse the trend. At the same time the oscillator Stochastic and the RSI indicate that the pair is oversold which might boost a bullish potential of the market.

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    NewForex Analyst

    Michael Butnitsky

    Forex News from New Forex: Technical analysis of EUR/USD

    At the closing of the Asian trading session on Thursday the pair shows a slight price rise within the immediate support at 1.1151 and resistance at 1.1233. Moving averages EMA20 and EMA55 look upwards, the MACD-histogram entered the positive zone and rises along with the strengthening of the RSI which moves upwards as well. However, it’s too early to speak about any serious market reverse, the oscillator Stochastic is seen in the zone of overbought and sends signals to sell.

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    NewForex Analyst

    Michael Butnitsky
     
  9. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    In the trading on Tuesday the currency pair is seen within the immediate support at 1.1268 and resistance at 1.1349 showing a slender lead of bulls.

    In a four-hour time frame we see that exponential moving averages with periods 20 and 55 days are close to crossing upwards and keep rising. The MACD-histogram stays in the positive zone but has slightly slowed down the current trend signaling the continuation of the uptrend. The RSI stands above its central line but demonstrates a trend with the possible consolidation at 1.1350-60 counterbalancing bulls and bears.

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    NewForex Analyst

    Michael Butnitsky


    Forex News from New Forex: Technical analysis of GBP/USD

    In the European trading session we observe the continuation of the uptrend in the market. The price remains within the level of support at 1.4566 and resistance at 1.4852.

    Exponential moving averages EMA20 and EMA55 crossed upwards and rise, the RSI demonstrates accumulating power of the current bullish trend. However, the oscillator Stochastic stays in the zone of overbought since the end of the last week which might signal the coming change of the market sentiment.

    [​IMG]

    NewForex Analyst

    Michael Butnitsky
     
  10. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of GBP/USD

    In the trading on Thursday the pound sterling has significantly increased against the US dollar overcoming the immediate resistance at 1.4847 and now testing the next level at 1.4913, a high since 29 December 2015. The price consolidated above the lines of Ichimoku Kinko Hyo which implies a further development of the bullish scenario and the market growth to the next resistance level at 1.4950. Exponential moving averages with periods 3, 20 and 55 days increase, the MACD-histogram stays in the positive zone and rises as well as the RSI.

    However, the market situation is not so clear due to the referendum in the UK today whose results might influence strongly on the financial market.

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    NewForex Analyst

    Luigi Campo

    Forex News from New Forex: Technical analysis of EUR/USD

    On Thursday the currency pair trades with a considerable price rise within the support at 1.1267 breaching the immediate resistance level at 1.1368 and tests now 1.1415, a high of this month. It is likely that it’s the result of the tendency among the Brits to buy euros as long as the Brexit results are not announced.

    Exponential moving averages with the periods 20 and 55 days crossed upwards and grow. The MACD-histogram entered a positive zone but lags behind with the signal for bulls. The oscillator Stochastic stands in the zone of overbought. Thus, the current market situation is unclear, all market participants wait for Brexit results.

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    NewForex Analyst

    Luigi Campo
     
  11. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    On Monday the currency pair trades with a slight price decline in comparison with the previous week, the price remains within the immediate support at 1.0955 and resistance at 1.1071.

    Exponential moving averages with the periods 20 and 55 days crossed downwards and decrease today. The MACD-histogram stands in the negative zone and keeps descending. The oscillator Stochastic sends signals in favour of bears.

    After the UK’s decision to leave the European Union the position of the euro is quite uncertain which leads to a wide range of the main and strong levels of support and resistance at 1.0755 and 1.1271. Only after the market consolidation above or below these magnitudes we can speak about the formation of a long-term trend.

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    NewForex Analyst

    Luigi Campo

    Forex News from New Forex: Technical analysis of GBP/USD

    On Monday the currency pair shows some downward trend within the level of support at 1.3325 and resistance at 1.3755. The RSI keeps sliding below its central line. EMA20 and EMA55 crossed downwards and continue to decline.

    The MACD-histogram stays in the negative zone and edges down. The oscillator Stochastic is seen in the zone of oversold which might foreshow the start of the correction in the short term. In general the situation is not in favour of bulls, the market consolidated far below the lines of Ichimoku Kinko Hyo. Only in case of breaching the current resistance at 1.3755, there will be a ground for strengthening of bullish positions.

    [​IMG]

    NewForex Analyst

    Luigi Campo
     
  12. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    On Tuesday the currency pair trades with a slight price rise within the level of support at 1.1016 and tests the immediate resistance at 1.1066. If the pair consolidates below the resistance level, we might see a movement to 1.0860. If the market consolidates above it, the price will jump to 1.1135.

    In a 4-hour timeframe we see that moving averages EMA 20 and EMA 55 crossed downwards and keep sliding. The MACD-histogram and the RSI remain below their central lines but rise today. The oscillator Stochastic gains as well approaching the zone of overbought sending signals to buy.

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    NewForex Analyst

    Luigi Campo


    Forex News from New Forex: Technical analysis of GBP/USD

    In the trading on Tuesday the market consolidates within the support level at 1.3153 and resistance at 1.3358. Exponential moving averages with periods 20 and 55 days keep declining, the MACD-histogram remains in the negative zone but has slightly slowed down. The RSI stands below its central line and shows signs of consolidation. The oscillator Stochastic foreshadows the growth of the currency pair in the short run.

    As for long-term prospects, the market stands below the lines of Ichimoku Kinko Hyo which implies the further continuation of consolidation. If the pound sterling gets extra support and goes beyond 1.3358, there might be a movement to 1.3550. If the price fixes below the current support level, there might be a movement towards 1.3.

    [​IMG]

    NewForex Analyst

    Luigi Campo
     
  13. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    During the Asian trading session on Wednesday the single currency trades with a slight rate rise. On Tuesday the euro got support amid the general easing of the US dollar reaching 1.1111 and then bounced off to 1.1060-70, as the result tradings closed with a firm bullish candlestick on the day chart. However, the market could not fix outside yesterday’s support and resistance (1.1016 and 1.1066).

    The 14-day RSI remains below its central line, exponential moving averages with periods 20 and 55 days decline without any sign of crossing. The oscillator Stochastic decreases sending signals to sell. The MACD-histogram stands in the negative zone but rises slowly to the positive field.

    Thus, in the short run technical characteristics indicate a neutral market sentiment. For the uptrend the price should fix above the yesterday’s high at 1.1111. For the downtrend it should breach the current support at 1.1010 and then at 1.0982.

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    NewForex Analyst

    David Fineberg

    Forex News from New Forex: Technical analysis of GBP/USD

    On Wednesday the pair is quite steady standing within the strong levels of support and resistance at 1.3272 and 1.3493 respectively testing the intermediate resistance at 1.3401.

    In the short run the pair will further consolidate. A long-term technical structure is prone to the bearish market sentiment in case of breaching the strong level of support at 1.3119 (a low since June 27).

    The MACD-histogram remains in the negative zone but rises. The RSI stands below its central line, the Stochastic sends a signal to sell.

    [​IMG]

    NewForex Analyst

    David Fineberg
     
  14. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    During the last three days the pair demonstrated a slight rise after a shock amid the referendum results in the UK devoted to leaving the European Union. In the trading on Thursday the price stands within the support at 1.1086 and resistance at 1.1117. Thus, we observe the continuation of the correctional period.

    In the short term a growth resumption might be possible in case of consolidating above the strong resistance level at 1.1167 which might give a way to 1.1252. For the opposite scenario the market should breach the support at 1.1050 which will help to go to 1.0971.

    Due to high market volatility sharp price movements do not exclude the continuation of consolidation. In a 4-hour timeframe EMA20 and EMA55 keep declining but the moving average with the period 20 days has slowed down and reverse. The MACD-histogram broke the even at the moment. The Stochastic informs about the overbought of the trading instrument.

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    NewForex Analyst

    David Fineberg


    Forex News from New Forex: Technical analysis of GBP/USD

    During the whole week after Brexit results we observe high market volatility without the formation of a clear-cut trend movement.

    On Thursday the currency pair trades in mixed ways with a slight price rise remaining within the support level at 1.3357 and resistance at 1.3606.

    In the short term in a 4-hour timeframe the MACD-histogram is seen in the negative zone but is ascending now. The RSI is close to the central line and might move to the field above it. The Stochastic decreases sending signals to sell. A long-term technical structure remains negative which in its turn leads to the further market descend.

    [​IMG]

    NewForex Analyst

    David Fineberg
     
  15. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    After the rally during the last two trading sessions the euro started to lose ground due to some rumours that the ECB is concerned about the contraction of the volume of debt securities corresponding to buying criteria. Yesterday tradings closed with a firm bearish candlestick on a day chart. The market retains high volatility potential.

    On Friday the pair trades with a slight price decline remaining within the support at 1.1000 and resistance at 1.1132. In the short run as we see on a four-hour chart the EMA 55 slides, the EMA 20 reversed and started to rise. The MACD-histogram broke even, the oscillator Stochastic reversed upwards and sends a signal to buy.

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    NewForex Analyst

    Michael Butnitsky

    Forex News from New Forex: Technical analysis of GBP/USD

    After the announcement of the Bank of England Governor Mark Carney about the intention to cut down the interest rate within the quantitative easing program the pound sterling retains its downtrend, yesterday’s trading session closed with a bearish candlestick.

    On Friday GBP/USD trades with a descending potential standing within the support level at 1.3114 and resistance at 1.3406.

    Exponential moving averages keep declining, the MACD-histogram remains below its central line, the price consolidated below Ichimoku Kinko Hyo which indicates the further market downtrend.

    [​IMG]

    NewForex Analyst

    Michael Butnitsky
     
  16. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    On Tuesday, July 5, the pair EUR/USD trades within the level of support at 1.1122 and resistance at 1.1165. On a 5-minute chart we see that the price bumped into a strong resistance at the start of the Asian session. Bearish sentiment is getting stronger. According to NewForex analysts, to make the right decision regarding this pair it’s preferable to wait for the breach of the strong support levels as signals of the MACD indicator and the Stochastic are not firm enough at the moment.

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    NewForex Analyst

    Michael Butnitsky
     
  17. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    On Wednesday, July 6, the pair EUR/USD keeps it bearish sentiment. Meanwhile, the decline of quotes slowed down near the strong support level at 1.1035. Operations with the pair seem quite risky today as traders expect an important Fed’s minute later today. The further pair movement depends mostly on data from the USA.

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    NewForex Analyst

    Luigi Campo
     
  18. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    In the trading on Thursday the pair remains within the level of support at 1.1065 and resistance 1.1149. A slight bearish sentiment prevails in the market with attempts to breach the current support level but without luck at the moment.

    Exponential moving averages with periods 20 and 55 days crossed downwards and decline. The MACD moved into the zone below zero, the Stochastic sends a signal to sell. The euro gained some support after the release of yesterday’s minutes by the Fed, the price climbed to 1.1111. However, the market could not stay at this level and pulled back to 1.1065 at the end of the trading session.

    Most market participants are in the anticipation of the results of the ECB Monetary Policy Meeting later today. And the market is eagerly awaiting tomorrow’s data from the USA on unemployment rate and nonfarm payrolls.

    Trading decisions should be based on the above-mentioned macroeconomic data.

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    NewForex Analyst

    Michael Butnitsky

    Forex News from New Forex: Technical analysis of GBP/USD

    Hitting a new 31-year low on Wednesday declining to 1.2795, the currency pair got support after the release of data from the USA and today trades within the support at 1.2747 and resistance at 1.2980. Based on the results on the previous trading session the pair formed a firm bearish candlestick in a day-chart which implies that the market intends to go downwards and there might be some new anti-records.

    EMA20 and EMA55 keep declining, the MACD remains below its central line as well as the RSI. Only the oscillator Stochastic sends a signal to buy.

    [​IMG]

    NewForex Analyst

    Michael Butnitsky
     
  19. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    During the trading session on Thursday the currency pair rose to 1.1106 and later bounced off to 1.1052 making a firm bearish candlestick in the day chart which shows the market intention to decline. It is necessary to breach the strong support at 1.1050. In case of success we expect to see the price at 1.0970. Otherwise, the market has to breach the resistance at 1.1111 which will allow the pair to climb to 1.1180.

    In the trading on Friday the pair remains within the support level at 1.1067 and resistance at 1.1095. EMA20 and EMA55 crossed downwards and keep descending. The MACD-histogram stands in the negative zone and slowly rises. The oscillator Stochastic sends a signal to sell.

    The market consolidated due to the decreased activity of its participants before the release of macroeconomic data from the US today at 15:00 GTM.

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    NewForex Analyst

    Luigi Campo


    Forex News from New Forex: Technical analysis of GBP/USD

    On Thursday the pair edged up to 1.3076 but later bounced off to 1.2878 finishing trades with a neutral day candlestick which says about the weakness of the currency pair and market consolidation giving chances both to bulls and bears, according to the current technical structure.

    On Friday the price remains within the support at 1.2883 and resistance at 1.3000. However, it is not so simple here. Today at 15:30 GTM the market expects the release of unemployment data and nonfarm payrolls for June. Consequently, all market participants shudder to a halt in the anticipation of macroeconomic statistics from the US. Thus, a further scenario totally depends on the released data.

    Exponential moving averages consolidated, decline and slowed down. The MACD-histogram remains in the negative zone but slightly rises. The RSI also stands below its central line. The Stochastic sends a signal to buy. We don’t exclude a further market descend hitting new record lows, even if the greenback receives firm support today.

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    NewForex Analyst

    Luigi Campo
     
  20. Anna Mon

    Anna Mon New Member

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    Forex News from New Forex: Technical analysis of EUR/USD

    On Monday, July 11, the pair EUR/USD trades within the support at 1.1015 and resistance at 1.1055. As we see on today’s 5-minute chart the price is under pressure ahead of the Eurogroup meeting. In late afternoon on Friday the market showed high volatility after the publication of the US nonfarm payrolls. Today the MACD-indicator indicates the formation of a sideways market trend. Taking into account signals of most indicators, it’s worth considering orders to sell on Monday.

    [​IMG]

    NewForex Analyst

    Luigi Campo
     
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